Turkey

Exploration Analysis

Internal consumption of oil products has more than doubled in Turkey over the past twenty years, while production has declined significantly, and recent exploration activity has yielded only marginal successes. Although natural gas is gradually being introduced into major urban areas to decrease reliance on oil, most of the supplies are being committed to local industrial utilization. Furthermore, the large volumes of natural gas currently imported from the CIS (former USSR) will be insufficient to meet future domestic demand. Turkey’s rising dependence on oil and gas imports, and the resultant strain on the country’s economy, suggests that privatization of the state-owned petroleum industry may occur sometime in the foreseeable future.

The Southeast Turkey Basin contains the country’s most promising hydrocarbon potential. Although there are many similarities between the geological setting of this area and that of the prolific producing region of northeast Syria, the Southeast Turkey Basin lacks the productivity of the latter. A better understanding of the structural geology, combined with modern seismic data, will assist in the identification of additional hydrocarbon reserves.

Turkey’s hydrocarbon potential is fair to good, with proven oil reserves estimated at 500 MMBBLS. As of December 1992, production was running at about 76,000 BOPD while domestic consumption was 400,000 BOPD The existence of a strong domestic market, coupled with a decline in crude oil production, combines to create a climate conducive to oil and gas exploration.

For more information contact:

Leslie Sears
Petrel Robertson Consulting Ltd.
500, 736- 8th Avenue S.W.
Calgary, Alberta
T2P 1H4

Phone: (403) 218-1618
Fax: (403) 262-9135
lsears@petrelrob.com
Note:

This summary, part of Petrel Robertson’s 1995 summary of exploration and development opportunities in 31 countries around the world, has not been updated. Some of the information, particularly relating to political and economic issues, is thus out of date. It is included, however, to demonstrate the breadth and depth of Petrel’s work in each of these nations.

Copyright © 2014 Petrel Robertson Consulting Ltd.